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Int free loan or gift between mother and son
HIII…
SUPPOSE MY MOTHER GETS 20 LACS TAX FREE DIVIDEND FROM SOME UNLISTED COMPANY…NOW HER PAST FD AND RENT INCOME IS ALREADY AROUND 150000 PER YEAR….. NOW IF THIS 20 LACS again I go for further fd then she will have to pay tax in 10 % slab… Now my questions are as follows 1) if I take int free loan of this 20 lac amount from her and invest in fd & earn via fd then is it allowed? I am a major child so it will be taxed in my hands ? 2)what difference it will make if instead of int free loan I take gift of this amount and invest in fd? 3)can my mother give int free loan or gift to sons huf file for above purpose instead of individual file? Will it make any difference in taxability point of view 4)in future if I want to repay all this gift amount or loan amount then what's the better way gift or loan…… 5) upcoming dtc code has any strict provision regarding it? Ankit mehta |
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